Swiggy has announced that its material wholly owned subsidiary, Swiggy Networks Ltd (SNL), will sell its entire shareholding in Lynks Logistics Ltd to Trustroot Internet Private Ltd (TIPL) through a share swap transaction.
Lynks Logistics is a step-down wholly owned subsidiary of Swiggy. The proposed transaction is expected to be completed by October 22, 2026, subject to the fulfilment of customary closing conditions and other terms set out in the transaction documents.
Under the proposed arrangement, SNL will transfer 100% of the issued and outstanding share capital of Lynks Logistics to TIPL. As consideration for the transfer, TIPL will issue and allot 166,534 Series R Compulsorily Convertible Preference Shares (CCPS) to SNL.
The CCPS will be issued at a price of USD 314.40 per share. The transaction will be undertaken pursuant to a Share Acquisition Agreement and a Deed of Adherence. TIPL and its affiliates are engaged in cash-and-carry wholesale trading.
Swiggy clarified that TIPL does not belong to its promoter, promoter group or group companies. The company also stated that the proposed transaction does not fall within the ambit of related-party transactions.
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The B2B authorised distribution business being transferred to Lynks Logistics is currently operated by SNL. During fiscal 2026, the business generated revenue of Rs 668 crore, accounting for 2.90% of Swiggy's consolidated revenue.
The net assets attributable to the business stood at Rs 500 crore as of March 31, 2026, representing 2.73% of Swiggy's consolidated net worth. The business transfer will take place pursuant to a Business Transfer Agreement between SNL and Lynks. Following the transfer of the business, SNL will sell its entire shareholding in Lynks to TIPL.
Swiggy said Lynks Logistics reported nil revenue on a standalone basis for fiscal 2026. The company had a negative net worth of Rs 11 lakh as of March 31, 2026. The transaction will therefore involve the transfer of the B2B authorised distribution business into Lynks before SNL exits its entire shareholding in the subsidiary through the proposed share swap.
The restructuring will result in the business being transferred to TIPL, which operates in the cash-and-carry wholesale trading segment through itself and its affiliates.
Swiggy Share Price Today
Swiggy shares closed 0.13% higher at Rs 276.45 apiece on Monday. The stock has declined 1.93% over the past week and 1.53% over the past month. On a year-to-date basis, Swiggy shares are down 29.24%, while the stock has fallen 37.03% over the past year.
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